Nordic American Tankers Limited (NYSE:NAT) Declares $0.04 Monthly Dividend

Nordic American Tankers Limited (NYSE:NAT) announced a monthly dividend on Friday, November 29th,NASDAQ Dividends reports. Shareholders of record on Tuesday, December 17th will be given a dividend of 0.04 per share by the shipping company on Thursday, January 16th. This represents a $0.48 annualized dividend and a yield of 18.18%. The ex-dividend date is Tuesday, December 17th.

Nordic American Tankers has increased its dividend by an average of 2.9% annually over the last three years. Nordic American Tankers has a payout ratio of 34.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Nordic American Tankers to earn $0.44 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 36.4%.

Nordic American Tankers Stock Performance

NAT opened at $2.64 on Friday. Nordic American Tankers has a 52-week low of $2.56 and a 52-week high of $4.64. The firm has a market capitalization of $551.23 million, a PE ratio of 9.10 and a beta of -0.26. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.56 and a current ratio of 0.73. The business’s 50-day simple moving average is $3.14 and its 200 day simple moving average is $3.55.

Analyst Upgrades and Downgrades

A number of analysts have commented on NAT shares. Evercore ISI cut their price target on shares of Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating for the company in a research note on Friday, August 30th. StockNews.com raised Nordic American Tankers from a “sell” rating to a “hold” rating in a report on Monday, December 2nd. Finally, Jefferies Financial Group restated a “hold” rating and set a $3.50 price objective on shares of Nordic American Tankers in a research report on Friday, November 29th.

Nordic American Tankers Company Profile

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.